I "pulled the trade" (practice) when it was +1 from my stop. It went +10 total and should have pulled it at +5.
Maybe if it was real I would have grabbed it at 10.
Now I'm trying short at 5765. Hope it's not too early. Trying to be aggressive.
Edit: Stop broken! -6.
barjon
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I've lost 17 points on 2 short trades this morning. This third one is long and about +6I deviated from my original plan. I shouldn't have been shocked by the large pullback springing back up. Resistance turns to support. Should have given it more of a go in this case.
I'll stick with my imaginary reverse order.
Long, again.
et, how do you know that this is a pullback in a new long trend? It's all hindsight, really. One can only act on what one feels and try to control the losses. I think it may be a long trend but an hour ago I was short thinking.
et, how do you know that this is a pullback in a new long trend? It's all hindsight, really. One can only act on what one feels and try to control the losses. I think it may be a long trend but an hour ago I was short thinking.
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New to the thread. Was trading ES for a while, but thought that I would try FTSE for a bit as well. Just a thought - but on the hourly chart, the FTSE has been dropping for a while and now going into a 30 pt trading range, if you like.
Anyone feel that there could be a major trend reversal on the cards this week?
I think that most, here, are bearish, just now. We tend to go from hour to hour, though. At present, I am not a bear.
The new bullish trend I'm hypothesising would be a pullback in a bearish trend - pullback to retest the range above 5834 on the day timeframe. We've not had a day timeframe retest of that range. Perhaps we won't get one, but that often happens after a range break, so it's something I'm considering.
Currently I'm expecting pullback to 5745. Not 100% certain and I agree it doesn't look that likely on the 4hr chart. However the 1:00 - 5:00 candle was a bearish rejection of the previous bullish candle yet did not reach the low I was expecting. Therefore my hypothesis is this current bull run must be a deviation on the way to that low.
If correct, expected deviation should max around 5778. Some instances the deviation in the larger trend doesn't reach its target though which is why I've mistakenly considered shorting at lower prices. This is also why I would have 'got out' at 5774 had I kept 'the trade' open.
I won't explain my exact method because it's still relatively new to me and it will confuse rather than help. I will though post a link to a youtube video later which contributed to my current method.
Price now close to 5778. I'll probably be 'in' short again. If the price action looks really strong I might wait for it to go over a bit.
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SuddenDeath
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12pt range over 2 hours
I've reentered bullish at 5770 expecting to exit at 5778, and probably short too, or somewhere close above 5778.
This is risky as I'm still predicting down and 5 min chart is painting a nice HS formation. however, should be a spike. Should...
Edit: Grrr... would I have done that will real money? not broken stop yet but it looks wrong decision. Stop broken.
- 11 today. And I got in at the right time on the bullish run, predicted the most significant pullback at 5774, and that the price would reverse 5778 (did so 5776.8). I'm over thinking my timing.
This is risky as I'm still predicting down and 5 min chart is painting a nice HS formation. however, should be a spike. Should...
Edit: Grrr... would I have done that will real money? not broken stop yet but it looks wrong decision. Stop broken.
- 11 today. And I got in at the right time on the bullish run, predicted the most significant pullback at 5774, and that the price would reverse 5778 (did so 5776.8). I'm over thinking my timing.
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